Social media has become one of the most emerging aspects of society. There are actually two versions of media which include mainstream media and social media. Mainstream media comprises television and newspapers whereas social media networking sites offer communication which is known as social media. People of various age group consistently use social media for reading news and to communicate with nears and peers. In the past era people were bound to live by the information they learned from their elders. But in present world of social media they can acquire versatile information just by one click. The new generation often thinks beyond the inspiration they took from their parents due to the emerging trend of social connectivity and search for different avenues in life. Social media bears the power of divergent public opinion. People can express what they feel about government policies. In a democratic state people feel free to talk about different perspectives of governance and let others know what they feel about the pros and cons of particular governing criteria. People can raise public perception about certain issues without visiting door to door. Surveys can also be done via social networking without spending many fiscal resources. Electronic media let us know about the main scenario and do not usually allow the general public to express their opinion. It is just the power of social media that can set the course for electronic and print media altogether. Mark Zuckerberg who launched Facebook never knew of its widespread use and significance back then. He developed Facebook to enhance the connection between college friends and family members. The social media giant is now utilized worldwide and people from every walk of life use it to express and depict what they like to share. Social media is cost effective and charges far less than other connection options like mobile phone companies. WhatsApp can be used to transfer huge data at very low costs. Social media is a source of information for students with different social and economic backgrounds. Those who do not have access to any standard library or costly books can get quality knowledge shared through web browsers and other social networking sites. Although social media is thought to strengthen family relations by simply coming in frequent contacts through social media it is considered that social media has harmed the nuclear family bond. Family members and other residents living in the same house look busy in scrolling down the social media sites of their own will and do not spend much time in family gatherings. Targeted harassment and hate content is an evil confronting social media outlets. People can spread hate content to others and remains largely out of the reach of law enforcers. This one thing causes much more concern in government circles on how to combat such crimes. Cyber laws are made an obligation and are amended from time to time to ensure the safety of online information and to do away with hate content. The economy of a country can be improved by transforming the economic state of its people. The trade unions uplifts in the exports via social networking sites can make the country a global economy. Social media has many positive perspectives and constraints but it has now become a necessary evil.